General Discussion
In reply to the discussion: Do you think a laborer who makes $150,000 a year with overtime is being overpaid? [View all]hfojvt
(37,573 posts)but running the world seems like an over-statement to me. Collectively, they have far less income than the rest of the top 1%. Does 1.59% of the income really have more power than 20% of the income?
You might dream that there is some sort of solidarity between the average mobile home renter and the people in $300,000 houses, but I don't share that illusion.
I still think that defining the word "rich" upwards does a disservice to the middle class. It allows for policies like the stupid payroll tax cut that gives 46% of its benefits to the top 20% and only 12% of its benefits to the bottom 40%. But not to worry because most of those members of the top 20%, heck even the top 1% are really just middle class working stiffs, driving their new cars to their air conditioned offices just like the rest of the working class.